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Tips for Your Online Home Search

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One of the great things about the internet is that you can use it to conduct a large part of your home search online. Below are some tips that will help make your online home search a successful one.

Buy a Home in Indianapolis IN
  1. Start your search early and check regularly. If you can give yourself some extra time to conduct your home search, that flexibility can really pay off. Homes are always entering the market or selling, so the homes available one week can be very different from those available the next week. Check regularly even in neighborhoods you have already searched. You might be surprised what comes up.
  2. Make a list of negotiables and non-negotiables. Before you start looking at homes, be sure to have a list of specific wants and needs. Separate your non-negotiable requirements out from things that are merely on your wish-list. List all the items in order of priority as well if you can. This will help you to focus your search and stay realistic. Of course, you should also know your budget.
  3. Don’t overlook foreclosed-upon homes. During your home search, you might sometimes run into properties that were foreclosed upon. You might overlook these, as many people assume “foreclosure = bad.” But some of these properties are in good condition, and represent an excellent value.
  4. Broaden your search. When you are searching for homes online, you can set parameters for your search, narrowing it down to a specific geographical area, a price range, and other attributes. For example, you can specify how many floors the house should have. Intuitively, it seems like the more parameters you set, the easier it will be for you to find your ideal house. But it sometimes is smart to try broadening your filters a bit. Say, for example, you only look in one neighborhood. But there is a perfect house right inside the border of the one next to it. If you do not check a broader geographical area, you would miss it.
  5. View the house offline. During the pandemic, it became commonplace to take online tours of homes. Today, you can still take virtual tours. But if you can, you should try to make it out to the house you are interested in for an offline tour. Still photos, and even video tours, can only convey so much of what a house really looks and feels like. You really need to be there in person to totally see what you would be getting.

Buy a Home in Indiana

With the tips above, you can conduct an efficient online home search. If you are ready to shop for a mortgage, please give us a call at (317) 255-0062. During your consultation, we can help you choose a suitable type of home loan for your scenario, and give you additional tips for your home search. We can help you buy a home in Indianapolis or anywhere in Indiana.

New Indianapolis Conforming Loan Limits for 2025

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If you are shopping for a home in Indianapolis in 2025, you will be able to take advantage of higher conforming loan limits. This is in line with the increases we have seen in conforming loan limits for years. Let’s take a look at the new conforming loan limits and the doors they open for homebuyers.

Here are the 2025 Conforming Loan Limits for Indianapolis

Buy a Home in Indianapolis IN

The Federal Housing Finance Agency (FHFA) issued an announcement detailing the higher conforming loan limits for 2025. According to FHFA, “In most of the United States, the 2025 CLL value for one-unit properties will be $806,500, an increase of $39,950 (or 5.2 percent) from 2024.”

What the conforming loan limits are varies from county to county. Here are the conforming loan limits for Marion County in 2025:

  • 1 unit: $806,500
  • 2 units: $1,032,650
  • 3 units: $1,248,150
  • 4 units: $1,551,250

For comparison, these were the 2024 conforming loan limits for Marion County:

  • 1 unit: $766,550
  • 2 units: $981,500
  • 3 units: $1,186,350
  • 4 units: $1,474,400

The conforming loan limits for Marion County are also the baseline conforming loan limits. These are the conforming loan limits in most US counties.

You will find higher conforming loan limits in certain high cost counties. In those high cost counties, the average home value is higher, which means that a borrower may need more than the baseline conforming loan limits allow even to purchase an average price home. Higher conforming loan limits in those counties bring more homes within reach using a conforming mortgage.

How Higher Conforming Loan Limits for 2025 Benefit Homebuyers

If the amount that you need to borrow to buy a home is higher than the conforming loan limits, then you need to take out a different type of home loan. This type of mortgage is known as a “non-conforming” or “jumbo” loan.

To buy a home with a jumbo loan requires a more substantial down payment. Homebuyers also need to meet more strict criteria to be approved for a jumbo mortgage, making qualification more challenging.

Raising the conforming loan limits ensures that more homebuyers can continue to buy homes with conforming loans even as home prices rise. This can make a big difference for those who would find a large down payment to be an obstacle, or who might otherwise have a hard time getting approved for a jumbo loan.

During your consultation, we can help you figure out if you qualify for a conforming mortgage, or require a jumbo loan. In either situation, we can help you work past obstacles to buy a home.

Buy a Home in Indianapolis

The higher conforming loan limits for 2025 are a great opportunity for homebuyers. If you want to buy a home in Indianapolis or anywhere in Indiana, Grandview Lending Inc. can help. To get started, please give us a call at (317) 255-0062 to schedule your mortgage consultation.

4 Surprises About Owning a Home

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Mortgage Broker in Indianapolis IN

Moving into a new home can involve some surprises. Some may delight you, while others may challenge you. If you are aware of those surprises going in though, you can prepare more and enjoy a smoother transition into homeownership. Here are a few surprises to be aware of.

  1. Maintenance. A lot goes into maintaining a home. The larger and more elaborate the property is, the more maintenance is needed. That also includes maintaining the lawn and garden, not just the structure. Home maintenance requires an ongoing supply of money, time, and labor. You also will need to develop at least some expertise, even if just enough to figure out what you need done, and how to vet reliable professionals.
  2. Property value and taxes. Another surprise for a lot of homeowners is just how much property values can rise or fall based on what is going on in the local area. Someone else’s decision that has nothing to do with you could cause your property values to quickly rise or drop. If property values go up, then property taxes are going to rise as well. Sometimes, these increases can be significant. The good news is that your home equity is worth more. But you do need to be able to afford the higher taxes. That is something to plan ahead for when you are determining how much home you can afford. You should pad your budget for the unexpected.
  3. The neighborhood. A lot of homebuyers underestimate just how big a role the local neighborhood is going to play in their daily lives. A neighborhood that you love can make your daily experience much better. One that you do not love may reduce your enjoyment of your home. So, during the process of shopping for a home, think carefully about how your home’s surroundings will impact you. That includes the placement of highways, the neighbors, the general look and feel of the neighborhood, etc.
  4. What a joy it is to have your own space. While some of the surprises that come with home ownership involve challenges, others are deeply rewarding. If you have never owned your own home before, you will be amazed at the sense of freedom, autonomy, and flexibility you get when you finally have your own property. You will be free to customize and upgrade your home, to put time and care into decorating it, and you will not have to deal with a landlord or property manager anymore.

Buy a Home in Indianapolis or Beyond

Grandview Lending can help you figure out what type of home loan is ideal for your needs. We can walk you quickly and easily through the steps to apply for a mortgage. That way, you can focus on your home search.

If you are ready to get started, please give us a call at (317) 255-0062 to schedule your mortgage consultation. We can help you buy a home in Indianapolis or anywhere in Indiana.